Business Context and Reporting Period
This Form 8-K filing by Belpointe PREP, LLC (NYSE American: OZ) covers events occurring between January 6, 2025, and February 3, 2025. The report primarily addresses the results of the Company's Annual Meeting of Unitholders held on January 28, 2025, and the resolution of a compliance issue regarding NYSE American listing standards.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses on corporate governance and regulatory compliance rather than financial performance.
Material Changes and Corporate Actions
- Annual Meeting Results: Unitholders approved the election of Class III directors and the ratification of the independent registered public accounting firm.
- Director Elections: Brandon Lacoff was elected with unanimous support (37,470,930 votes for). Dean Drulias was elected with 1,979,346 votes for, 73,027 against, and 15,217 abstentions.
- Listing Compliance: The Company received notice on January 6, 2025, of non-compliance with NYSE American listing standards due to a delayed annual meeting for the fiscal year ended December 31, 2023. Following the January 28, 2025, meeting, the Company received confirmation on January 30, 2025, that it had regained compliance.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of new risks or contingencies. The primary risk addressed was the temporary loss of listing compliance, which has been resolved.
Key Facts for Investor Verification
- Verify the current listing status of Class A units (OZ) on NYSE American to confirm continued compliance.
- Review the definitive proxy statement (Schedule 14A) filed on November 5, 2024, for detailed background on the director nominees and auditor ratification.
- Note the voting structure: Class M unit holders possess significant voting power (10x the aggregate of Class A and B units) on specific matters, though they voted separately on the Class III director election.
- Confirm the appointment of Citrin Cooperman & Company, LLP, as the independent auditor for the fiscal year ended December 31, 2024.